ITE looks for further acquisitions

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The exhibition and conference organiser ITE Group, which gets half of its revenue from its core market Moscow, is looking to expand its business through acquisitions in Turkey, Ukraine and India.

The British company, which organises around 200 trade exhibitions and conferences each year in 14 countries, bought three businesses in the last financial year, two of which were in Russia and one in Turkey. The first-time contribution from these businesses accounted for £16m in the year to 30 September.

ITE Group posted a 40 per cent rise in pre-tax profits to £51.4m on revenues, up 37 per cent, at £156m.